Lam Research just got a Wall Street glow-up

Wall Street’s favorite hobby: changing its mind

Analysts kicked off the week with a little ratings remix, but the headline for Lam Research was the one doing the heavy lifting. Morgan Stanley upgraded LRCX to Overweight and bumped its price target to $331 from $293.

That’s a pretty friendly vibe shift for a stock that closed Friday at $284.72. In plain English: one of the big banks thinks Lam’s setup looks better from here, even after the stock’s recent run.

Why you should care

Lam doesn’t exactly sell the kind of product you can show off at brunch, but it’s a big deal in the semiconductor supply chain. When analysts get more bullish on chip equipment names, it can ripple through the whole “AI boom needs a lot of picks and shovels” trade.

Here’s the rest of the Monday upgrade parade:

• Invitation Homes (INVH) got upgraded to Outperform by Raymond James
• F5 (FFIV) got upgraded to Outperform by Evercore ISI
• Deckers (DECK) got upgraded to Neutral by Piper Sandler
• Crown Holdings (CCK) got upgraded to Overweight by JPMorgan

The bigger picture

This isn’t a company-specific bombshell with earnings-style fireworks. It’s more like a cluster of analyst recalibrations — the sort of thing that can still nudge sentiment, especially for names sitting near recent trading ranges.

Big picture: Lam Research got the spotlight in a noisy upgrades roundup, and Wall Street is basically saying the semiconductor machinery party might not be over yet.